http://www.ner.net/solutions/ironcheck/ - This is where you can verify ownership & clean UCC1 (which is liens or loans against the serial number).
I know we've talked about this before...Mods, can we pin this thread to the top of the page?
A. This is an industry full of crooks and liars. That's not limited to sales reps. : )
B. Because of equipment not having titles, it makes it very hard to track & verify equipment ownership.
C. Verifying a clean ownership can also be difficult. Just because the original lien was paid off doesn't mean the equipment is clear. Many B,C,D credit places use blanket liens...and banks use equipment as collateral for other loans as well.
Some of the things that I've encountered, or my former boss (now retired) have encountered are (BUT not limited to)...
- Stolen Cashiers Check...where they were real...but someone stole a bunch of them from a bank. Came with a 'letter' from the banker as well.
- People using my invoice & wiring instructions to make their own checks...if you send or take wires you need a 'Drop Account' just for that with $10 in it.
- A D8 that a drug addicted nephew sold one of my old bosses buddies. Had same last name as the owner...found out when the truck got sent to get it.
- Tractors that my old boss bought after extensive checks with PD because the deal seemed too good-then the guy stole them after the fact off job sites.
- Tractors that didn't exist.
- Foreign buyers who tried the shipment payment - wire scam.
- Countless others...and the list will grow as these people have free time & balls as big as church bells. Who can blame them because I'm not aware of any arrests or follow through that law enforcement ever completed on any of my situations. The stolen after the fact tractors was a 3 page story & I'm not sure what ever happened to the D8 guy...if I remember correctly, the buyer was screwed.
Machinery Trader & others don't have time or the ability to verify anything...especially with their free ads. Same is true of auctions inspecting equipment for quality & problems. They will typically ensure there is a clear UCC1 or ownership.